BitTorrent Jumps 80%! How High Will BTT Price Go Amid Market Volatility?

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Written By Pinang Driod

After displaying a neutral trend for a brief period, the BTT price has recorded a significant price action in its valuation over the recent time. The BitTorrent price has added over 78% within the past seven days and has collectively added approximately 150% over the past 30 days.

The BitTorrent (BTT) price traded in a closed range between $0.000000953 and $0.00000119 for over three weeks, highlighting a weak price action for this altcoin in the market. After multiple failed attempts, the bulls regained momentum and successfully broke out of the resistance level.

TradingView: BTT/USDT

However, the rally was short-lived as the price faced rejection at $0.00000153, following which it traded sideways for the next four days. Recently, the bulls regained momentum and recorded a jump of approximately 55% in valuation.

After facing rejection at $0.00000214, the BTT price started trading under a bearish influence and since then has been trading in a closed range between $0.00000191 and $0.00000214.

The Relative Strength Index (RSI) continues to trade above the overbought range, highlighting an increased buying-over-selling pressure in the market. Moreover, the averages show a flatline, suggesting uncertainty in the future price action of this altcoin.

Will BTT Price Drop?

If the bulls regain momentum, the BTT price will test its resistance level of $0.00000214 this week. Further, if the market holds the price at that level, the bulls will continue gaining momentum and prepare to test its upper resistance level of $0.00000240.

Negatively, a trend reversal may pull the price toward its support level of $0.00000190. Moreover, if the bears continue to overpower the bulls, the price may further plunge and prepare to test its crucial support level of $0.00000153 this week.

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